AI-Powered Portfolio Monitoring
Track covenants across your entire portfolio. AI-powered analysis. Self-hosted for data sovereignty. Know before your lenders do.
Self-hosted. Your data never leaves your network. Enterprise AI at small-firm prices.
73% of PE firms cite covenant monitoring as a major operational bottleneck.
Covenant tracking doesn't scale. As your portfolio grows, spreadsheets become unmanageable, error-prone, and impossible to audit.
You find out about breaches after lenders call. By then, it's too late to negotiate or remediate. You're always playing catch-up.
Sensitive financial data scattered across cloud tools. When LPs ask where their portfolio data lives, what's your answer?
Institutional-grade monitoring, delivered on your infrastructure.
AI automatically tests covenants against thresholds. Debt/EBITDA, Interest Coverage, Current Ratio - all monitored in real-time.
Upload financials in any format. Our AI extracts the data you need without manual entry or reformatting.
Your data stays on your infrastructure. No third-party clouds. Full data sovereignty for LP compliance.
Stop staring at twelve spreadsheets. COVENANT rolls every portfolio company's covenant posture into one health score the investment committee can read in three seconds.
Real-time covenant testing across every LBO in the book. Green means tested and clean. Yellow means within ten percent of a covenant trip. Red means breach. Click through to any company for the full test-by-test drill-down.
Illustrative dashboard. Live product uses your fund's covenant schedule and financials.
One breach. Four defaults. You are not watching an isolated thunderstorm over a single portfolio company - you are seeing the topological map of how the floodwaters spread across your capital structure before the original lender's demand letter lands.
Company A trips a leverage covenant. The radar picks up the contagion as it spreads: COVENANT's lender-graph analysis surfaces every shared-lender exposure, MFN clause, and cross-default provision that drags B, C, and D into the storm before the original lender's demand letter lands. Your workout team has a two-week head start.
A radar that fires on every drizzle trains its users to mute notifications. COVENANT routes every signal through a three-tier confidence classifier before it reaches a human. Pager-worthy signals stay pager-worthy.
Tier 1
High confidence. Cross-default cascade risk detected across 2+ borrowers with connected exposure.
Routes to: pager credit committee
Response: within 24 hours
Calibrated to fire under 5x per quarter per 200-facility fund.
Tier 2
Medium confidence. Single-borrower covenant ratio deteriorating, debt-service coverage dropping past warning threshold, unplanned capex mid-quarter.
Routes to: portfolio manager daily digest
Response: within 5 business days
Per-PM sensitivity controls tune the floor.
Tier 3
Low confidence. Early signals, single data-point drift, not yet indicative of stress. Logged for pattern detection.
Routes to: weekly portfolio summary
Response: no immediate action
Feeds quarterly sensitivity recalibration.
Alert-history analytics recalibrate sensitivity quarterly based on tracked outcomes.
"Your last 20 Tier 2 alerts, 14 actionable, 6 noise, sensitivity auto-recalibrated." The radar gets sharper every quarter. The boy-who-cried-wolf problem is engineered out by design.
Tier 2 Density Cap
A daily digest that bundles twelve lukewarm signals is just a junk drawer with a calendar. COVENANT caps the Tier 2 daily digest at the 3 most relevant signals per portfolio manager, with a steady-state guarantee of under 5 Tier 2 alerts per week.
When signal volume would exceed the cap, the system makes a hard decision: promote the highest-confidence candidate to Tier 1 (Cascade Warning, pager), or demote the lowest to Tier 3 (Watch, weekly digest). Never overflows.
In the alert preferences UI: "Your current digest is averaging 2.4 signals per day." The PM sees the cap working in real time.
Conservative-By-Default
COVENANT's per-PM sensitivity sliders ship with conservative defaults that catch roughly 95% of correlated breach signals as Tier 1. PMs can dial sensitivity down to fit their portfolio's volatility profile, but the factory default catches the "we should have been paged" cases where demoting a signal would later constitute a breach of fiduciary duty.
Every slider adjustment is logged, timestamped, and reasoned - the PM enters a short note. When the inevitable postmortem happens, the audit log answers "why was this signal demoted" with a dated reason in the PM's own words. The tuning tool is not a vendor liability shield. The defaults are the shield.
COVENANT continuously monitors the 80% of your book with clean data AND auto-generates targeted compliance enforcement requests to the 20% lagging behind. The radar does not wait for the data. The radar hunts the data down.
Per-Borrower Data Quality Grade
A
Real-time API integration direct from the borrower's accounting system.
B
Scheduled daily structured push via Onboarding Wizard.
C
Monthly structured financial statements via Onboarding Wizard.
D
Quarterly structured financials (the legacy baseline).
F
Quarterly scanned PDFs with OCR extraction (lagging).
COVENANT directs scarce human attention to the 20% that actively requires it, while fully automating the 80% that has clean data pipelines.
Every sub-A borrower ships with an auto-generated Path to A action list: "Re-negotiate reporting requirements in next amendment cycle," "Deploy Onboarding Wizard for this borrower," "Request API integration for upcoming refinancing." Portfolio coverage compounds as the action list closes out.
A-F Grading: Active Enforcement
When a borrower hits a D or F grade, COVENANT does not wait. The system auto-generates a templated compliance-enforcement request to the borrower's CFO or CRO, referencing the specific contractual reporting obligations the borrower signed, requesting the missing data, and opening a tracked response timer.
Non-responsive borrowers surface as a daily Compliance Friction report on the PM dashboard, sorted by days-since-request and by underlying credit exposure. The 20% is not celebrated as a blind spot. The 20% is hunted until it becomes the 80%.
The companies with the worst financial-reporting hygiene are historically the first to default in a liquidity crisis. Active enforcement does not pretend otherwise; it goes and gets the data.
CISO Fast-Track Bridge
The COVENANT SOC 2 Equivalence Document is a CISO Fast-Track Bridge for early adopters: it translates the local-inference architecture into the vocabulary a cloud-era SOC 2 checklist already understands. It is not a substitute for an independent audit. It is the bridge that gets early-mover credit funds deployed while the independent audit completes.
Because borrower financial data never leaves the fund's environment, the standard SaaS security risks are bypassed entirely. The architecture itself is the primary security control. The Bridge is the roadmap that proves the local architecture requires a lower burden of proof.
Independent Big-4 SOC 2 Type 2 audit target: Q2 2027. Funded by founder-tier subscription revenue. Published on a public calendar so CISOs can plan around it rather than squint at a self-attested document.
Drag the slider to match your portfolio. The math comes from finance teams who still run covenant tracking in Excel.
Estimates based on industry PE ops benchmarks. Your mileage varies with fund size, covenant complexity, and how busy your FP&A team already is.
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